Prohibits oil companies from passing on the tax to consumers by raising gas prices
Did you know that ...
- California loses $3 billion annually because of the Oil Tax Loophole?
California is the only major oil producing state that has no tax on oil extracted onshore or offshore? - Alaska's oil extraction tax was raised to 25% by Governor Sarah Palin, and Texas' oil extraction tax produces $2 billion for education annually? A gallon of gasoline is 50 cents less in Texas than in California?
- California's combined "tax" burden on oil production was $4.22 per barrel, and Texas' was $14.33 in 2008, after accounting for regulatory fees, applicable severance taxes, property taxes, and income and franchise taxes, according to analysis by the California State Board of Equalization? (Capitol Weekly 07/15/10)
- California's Oil Companies' CEOs Ray Irani and John Watson (Occidental Petroleum and Chevron) made $76.1 million and $16.3 million in one year, while working class Californians' wages and salaries dropped?
- California is 43rd in per pupil spending K-12, out of 50 states?
California cut $20 billion from education in the last few years? - California has laid off thousands of teachers and professors, cut thousands of class sections, expanded class sizes, and turned away thousands of qualified college and university students, reducing graduation rates?
- California has raised college tuition fees by several hundred percent in the last few years?
- California is falling behind our competitors, such as China, South Korea, India, and Germany, in providing free and/or affordable education (professional, scientific, technical, mathematical, literary, and artistic), and as a result is lagging economically?
California has dropped from the 5th largest to the 8th largest economy in the world, in recent years? - California, in the 1960s and 1970s, provided tuition free college and university education, as required by Governor Pat Brown's Master Plan for Higher Education?
- California loses $3 billion annually because of the Oil Tax Loophole?
- California is the only major oil producing state that has no tax on oil extracted onshore or offshore?
- Alaska's oil extraction tax was raised to 25% by Governor Sarah Palin, and Texas' oil extraction tax produces $2 billion for education annually? A gallon of gasoline is 50 cents less in Texas than in California?
- California's combined "tax" burden on oil production was $4.22 per barrel, and Texas' was $14.33 in 2008, after accounting for regulatory fees, applicable severance taxes, property taxes, and income and franchise taxes, according to analysis by the California State Board of Equalization? (Capitol Weekly 07/15/10)
- California's Oil Companies' CEOs Ray Irani and John Watson (Occidental Petroleum and Chevron) made $76.1 million and $16.3 million in one year, while working class Californians' wages and salaries dropped?
- California is 43rd in per pupil spending K-12, out of 50 states?
California cut $20 billion from education in the last few years? - California has laid off thousands of teachers and professors, cut thousands of class sections, expanded class sizes, and turned away thousands of qualified college and university students, reducing graduation rates?
- California has raised college tuition fees by several hundred percent in the last few years?
- California is falling behind our competitors, such as China, South Korea, India, and Germany, in providing free and/or affordable education (professional, scientific, technical, mathematical, literary, and artistic), and as a result is lagging economically?
- California has dropped from the 5th largest to the 8th largest economy in the world, in recent years?
- California, in the 1960s and 1970s, provided tuition free college and university education, as required by Governor Pat Brown's Master Plan for Higher Education?
It's time to put California Education back on track !
The Tax Oil to Fund Education Initiative will close the oil tax loophole and:
- raise $3 billion annually for California Education, Kindergarten through College and University, by placing a 15% tax on crude oil and natural gas drilled from California onshore and offshore
- prohibit oil companies from passing the tax on to consumers by raising gasoline prices
- fine the oil companies if they pass on the tax by raising gasoline prices, and return the money to Californians in annual rebate checks
- help retain jobs and create thousands of new jobs in California, and make California competitive in the new global economy, by fully educating our students who will create new technology
- restore cut class sections, rehire laid off teachers and professors, reduce class sizes K-12, reduce college tuition fees and increase opportunities for all Californians to graduate and rebuild the disappearing middle class.
